#1 - Tesla (NASDAQ:TSLA)
Earlier this year, we left Tesla (NASDAQ:TSLA) off a list of seven EV stocks. Part of that was that it seemed too obvious. But TSLA stock also was looking overvalued. Since then, the stock received a haircut but has now pushed to a record high. In fact after receiving an order for 100,000 of its vehicles from Hertz (OTCMKTS:HTZZ), Tesla stock became the latest stock to achieve a $1 trillion market cap.
The company posted earnings in October and beat on both the top and bottom lines. Perhaps more impressive was the degree to which the company beat year-over-year (YOY) comparisons. Revenue was 56% higher and earnings were 144% higher from the same quarter in 2020.
Although Tesla CEO Elon Musk has expressed his displeasure that this subsidy will benefit the unionized big three automakers, Tesla should come out alright. The company is well-positioned to take advantage of these tax credits. Not only is it already delivering EVs, but it has a charging infrastructure in place to help reduce the range anxiety that other EV manufacturers will have to overcome.
About Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
Read More - Current Price
- $340.17
- Consensus Rating
- Hold
- Ratings Breakdown
- 14 Buy Ratings, 16 Hold Ratings, 9 Sell Ratings.
- Consensus Price Target
- $230.18 (32.3% Downside)
